Investment holding company Belgravia Hartford Capital Inc. (CSE:BLGV) has made its first Bitcoin acquisition for its treasury strategy, purchasing 4.86 BTC for USD $500,000 at an average price of $102,848 per BTC.
Following a $5 million credit facility agreement with Round13 Digital Asset Fund L.P., Belgravia Hartford Capital is monitoring the market and its Bitcoin holdings closely.
Belgravia reported a CAD $44.1 million non-capital tax loss and is exploring options to monetize this asset to strengthen its balance sheet and support its Bitcoin treasury strategy.
The trend of companies using Bitcoin as a treasury reserve asset is growing globally, with 226 entities currently holding Bitcoin. Know Labs, Inc. has also adopted a Bitcoin treasury strategy, acquiring 1,000 Bitcoin as part of its growth plan.